Functions of CRA

Services to subscribers of all sectors

  • Recordkeeping, administration and customer service functions for all NPS subscribers
  • Issue of unique Permanent Retirement Account Number (PRAN) and IPIN/TPIN
  • Maintaining database of all PRANs issued, scanned copies of KYC documents and recording transactions
  • Providing : 
    • Centralized Grievance Management System 
    • Call Centre Facility
    • Periodic consolidated SOT(Statement of Transactions) 
    • Web based access to all the NPS Stakeholders
    • Subscriber maintenance services such as change of scheme, change of demographic details, grievance handling etc 
    • Claims Processing Cell and related functionalities to process the withdrawal requested. ​

Record Keeping & continuous enhancements:

  • Create and establish facilitation centers network across country
  • Development of various new functionalities/utilities and establishing new processes
  • Continuous enhancements and development of modules to address changing requirements of various stakeholders
  • Procurement of all necessary hardware and software
  • Setting up delivery, operations and security infrastructure ​

Services to intermediaries

  • Pension Fund Managers (PFMs)
    • Timely allocation of funds to PFMs
    • Preparation and sending of consolidated Investment Preference Scheme information
    • Provision for sending net payout report
    • Discrepancy/confirmation report on net payout
    • Net fund transfer report to PFMs, on the basis of confirmation of fund transfer report received from Trustee bank. 
    • Scheme performance reports measured using NAVs send by PFMs to CRA.Preparation and sending of consolidated Investment Preference Scheme information.
    • Provision for sending net payout report
    • Discrepancy/confirmation report on net payout
    • Net fund transfer report to PFMs, on the basis of confirmation of fund transfer report received from Trustee bank. 
    • Scheme performance reports measured using NAVs send by PFMs to CRA. ​​
  • Trustee Bank (TB)
    • Reconcile pension fund reports received from Trustee Account with pension fund contribution information report
    • Generate error/discrepancy report on fund reconciliation
    • Sending instruction to Trustee Bank to remit withdrawal fund to subscribers’ account and remit remaining amount to  Annuity Service Providers’ account against the annuity scheme
    • Pension fund contribution/collection report
    • Generate error/discrepancy report on fund reconciliation
    • Funds transfer report
    • Retirement funds transfer report ​​
  • Annuity Service Providers (ASPs)
    • Collection of physical application forms from the subscribers and forwarding them to ASP.
    • Funds transfer details for the subscriber’s annuity to ASPs.
    • Electronic data transfer to ASPs with respect to subscriber details.
    • Sending instruction on Annuity scheme
    • Confirmation on sale of annuity scheme: Annuity Service Provider should be able to send confirmation report of sale of   annuity scheme to superannuated subscribers.
    • Grievance and redressal 
    • Confirmation of fund transfer from Trustee Bank ​​
  • Others
    • Periodic and ad-hoc MIS (including Grievance redressal) to PFRDA, State Governments, Central Government and Ministry   of Finance
    • Conduct periodic orientation programs for Nodal Offices
    • Provide seamless and error-free system operations involving CRA system, PFMs, TB and other entities in NPS  

 

CRA charges

The current CRA charges for NPS regular and NPS Lite/APY subscribers are as under:-

Sr. No.

Service Charge head

NSDL

Karvy

NPS regular

NPS-Lite / APY

NPS regular

NPS-Lite / APY

1

PRA opening charges

40

15

39.36

15

2

PRA Annual maintenance charges

95

25

57.63

14.4

3

Transaction charges

3.75

Nil

3.36

Nil

The following activities are classified as transactions: i) Contribution Credits, ii) Rebalancing of Assets, iii) Change in scheme preference, iv) Switch – in / Switch – out of Units, v) Withdrawals – partial/ full, vi) Freeze, vii) Un – freeze and viii) Inter-sector Shifting of subscribers.

ops flow NPS

 

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